I am selling my house in Chelsfield and the estate agent has just e-mailed to warn that the buyers are swapping law firm. I am told that this is due to the fact that the bank will only work with property lawyers on their conveyancing panel. Why would a big named mortgage company only deal with specific lawyers rather the firm that they want to choose for their conveyancing in Chelsfield ?
Lenders have always had an approved set of law firms that can act for them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Banks blame a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.
I have Fifty Six years unexpired on my lease and require a lease extension for my apartment in Chelsfield. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 15/1/2020 the requirements read as follows :
I am buying a new build house in Chelsfield with a loan from Barclays . The sellers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not inform my solicitor about the extras as it will jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Taking into account that I am about to part with 450k on a garden flat in Chelsfield I wish to have a conversation with the lawyer about myhouse move ahead of instructing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be doing your conveyancing in Chelsfield.There is no ‘factory style conveyancing’ - each client is unique person, not a matter number. The solicitors that we put you in touch with believe that the figure you are provided with for residential conveyancing in Chelsfield should be the amount on the final invoice that you end up paying.
My father has suggested that I appoint his conveyancing solicitors in Chelsfield. Should I find my own solicitor?
Much as we are happy to recommend a Chelsfield conveyancing lawyer the best way to find a conveyancing practitioner is to seek referrals from friends or family who have actually experience in using the solicitor you're considering.
Estate agents have just been given the go-ahead to market my ground floor apartment in Chelsfield. Conveyancing solicitors are to be appointed soon, however I have recently had a yearly maintenance charge demand – Do I pay up?
It best that you pay the invoice as normal as all ground rent and maintenance payments should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Following months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Chelsfield. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Chelsfield conveyancing firm who can help.
An example of a Lease Extension case for a Chelsfield flat is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The unexpired residue of the current lease was 50.57 years.